It is well known that Southeast Asia has great growth potential in high-value products, and consumer appliances are no exception.
The data show that the current consumer spending on home appliances in Southeast Asia is still $100 per household per year, significantly lower than Western Europe ($600) and North America ($500).
In addition, with rapid economic growth, consumers will choose a more comfortable lifestyle.
Surveys show that despite the hot weather in the region, air conditioning is a necessity, but most Southeast Asian countries still have low air conditioning ownership. As average disposable income increases, more consumers will have easier access to air conditioners.
Maintain double-digit growth! In Southeast Asia, there are huge opportunities for such products - Fengnian International Logistics
While the pandemic has brought unprecedented difficulties to most industries, consumer appliances in Southeast Asia have seen growth in both 2020 and 2021.
Closures and travel restrictions have led to a shift towards family centrality, where households and individuals make the bulk of their consumption.
According to Euromonitor International's 2021 Lifestyle survey, 66% of Southeast Asian consumers work from home at least weekly, and 70% cook or bake at least once a week
Hair care products such as trimmers and hair dryers are the strongest growth categories because they are not available in stores.
In addition, as households store more frozen food and the need to cook increases, refrigeration equipment and microwave ovens have also seen dynamic growth.
It is worth noting that as people spend more time at home, they are increasingly concerned about home safety, especially in families with young children.
Therefore, health and hygiene-related products such as air purifiers have achieved strong double-digit growth during the epidemic, and it is expected that the category will continue to show double-digit growth trend in five years.
In particular, most manufacturers emphasize more health and hygiene-related features in their social media marketing, claiming to "eliminate 99.9% of bacteria" and so on.
Finally, the study notes that while consumers expect new, feature-rich products, concerns about price remain.
In short, consumers in the region want quality products at the lowest possible price, so sellers and brands need to make good trade-offs.